European stock indexes declined today due to weak corporate earnings. Weakness in the U.S. stock market also weighed on markets. Look for declines in the Vanguard MSCI Europe ETF (VGK).

Industrial production for the EMU dropped 2.5 percent in October. The drop was steeper than the 1.8 percent analysts had expected, and a sharp turn from the 0.9 percent increase seen in September. Output in Germany, France and Portugal in October fell 2.1 percent, 2.7 percent and 12 percent, respectively.

Domestic

U.S. stock futures reversed direction after Monday's sell-off and advanced due to Cisco's strong earnings report, but it remained cautious ahead of retail sales data.

Analysts estimate that retail sales, including cars and gasoline, fell 0.1 percent in October after having seen a 1.1 increase in September.